{"id":2667,"date":"2021-08-10T12:41:08","date_gmt":"2021-08-10T05:41:08","guid":{"rendered":"https:\/\/star-am.com\/?p=2667"},"modified":"2023-08-22T03:04:34","modified_gmt":"2023-08-22T03:04:34","slug":"star-insight-market-update-09-agustus-2021","status":"publish","type":"post","link":"https:\/\/star-am.com\/en\/2021\/08\/10\/star-insight-market-update-09-agustus-2021\/","title":{"rendered":"STAR Insight, Market Update 09 August 2021"},"content":{"rendered":"

<\/span><\/div><\/div><\/div>

Strong GDP pushed JCI up<\/b><\/span><\/p>\n

    \n
  • US data announcements favored stocks over bond<\/li>\n
  • Strong US jobs numbers; sector rotation might occur<\/span><\/li>\n
  • Indonesia recorded above expectation GDP growth in 2Q21<\/span><\/li>\n<\/ul>\n

    \u00a0<\/b><\/span><\/p>\n

    Mixed data results, US stock market up while bond decrease<\/b><\/span><\/p>\n

    Markit US Manufacturing PMI was recorded at 63.4 in Jul’21, slightly better than Jun’21 number and consensus expectation, both at 63.1. However, the <\/span>US trade balance during the month, recorded at -$75.7B, came in below the <\/span>consensus expectation of -$74.0B. With these announcements, S&P 500 <\/span>and Dow Jones were up by 1.1% for the week. Financials and Utility sectors <\/span>led the positive performance on S&P500, increasing by 3.65% and 1.52%, <\/span>respectively. US Dollar index was slightly down last week, decreased by <\/span>0.49%, while 10Y treasury yield increased by 7.46bps to 1.29%. The US <\/span>stock market’s positive performance was also supported by a significant <\/span>increase in jobs number in Jul’21.<\/span><\/p>\n

    \u00a0<\/b><\/span><\/p>\n

    Significant climb in the jobs number<\/b><\/span><\/p>\n

    Stronger than expected jobs number for July has bolstered the case for investors who believe Treasury yields will head higher over the rest of the <\/span>year, potentially weighing on an equity rally that has taken stocks to record <\/span>highs. The yield on the benchmark 10Y Treasury, which move inversely to <\/span>prices, stood at about 1.3% on Friday, their highest level since July 23, after <\/span>Labour Department data showed the U.S. economy added 943,000 jobs last <\/span>month. Among the implications of higher yields could be a drag on tech and <\/span>growth stocks with lofty valuations, but could also boost the appeal of so- called value stocks – shares of banks, energy firms, and other economically <\/span>sensitive companies that hurtled higher earlier in the year but have struggled <\/span>in the last few months. This data growth could make dollar-denominated <\/span>assets more attractive to yield-seeking investors. On the other end, a <\/span>stronger dollar can be a headwind for U.S. exporters because it makes their <\/span>products less competitive abroad while hurting the balance sheets of <\/span>domestic multinationals that must convert foreign earnings into dollars.<\/span><\/p>\n

    \u00a0<\/b><\/span><\/p>\n

    Positive GDP result, JCI up by 1.8%<\/b><\/span>
    \n<\/b><\/p>\n

    Indonesia recorded 7.07% growth (YoY) on GDP in 2Q21, above the consensus expectation of 6.72%. The strong numbers in 2Q21 revealed that <\/span>economic recovery in Indonesia will be swift as lock-downs are lifted. Based <\/span>on this result, JCI increased by 1.8% last week, breaking its technical <\/span>resistance with financials (4.37%) and transportation and logistics (3.2%) <\/span>sectors led the positive performance. Foreign investors recorded a net buy <\/span>of Rp925bn in the regular market with the biggest net-buy on BABP <\/span>(Rp393.3bn), ASII (Rp283.8bn), BBRI (Rp268bn), and BBCA (Rp234.3bn). <\/span><\/p>\n

    On the bond market, Indonesia’s 10Y government bond yield was relatively flat, decreased by only 0.7bps last despite foreign investors booked a net <\/span>buy of Rp11.9tn to Indonesia’s government bond market last week, <\/span>supported by positive GDP numbers.<\/span><\/p>\n<\/div><\/div><\/div><\/div><\/div>

    <\/div><\/div><\/div><\/div><\/p>","protected":false},"excerpt":{"rendered":"","protected":false},"author":3,"featured_media":1619,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[1],"tags":[],"class_list":["post-2667","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-market-update"],"acf":[],"yoast_head":"\nSTAR Insight, Market Update 09 Agustus 2021 - Star Asset Management<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/star-am.com\/en\/2021\/08\/10\/star-insight-market-update-09-agustus-2021\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"STAR Insight, Market Update 09 Agustus 2021 - Star Asset Management\" \/>\n<meta property=\"og:url\" content=\"https:\/\/star-am.com\/en\/2021\/08\/10\/star-insight-market-update-09-agustus-2021\/\" \/>\n<meta property=\"og:site_name\" content=\"Star Asset Management\" \/>\n<meta property=\"article:published_time\" content=\"2021-08-10T05:41:08+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2023-08-22T03:04:34+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/star-am.com\/wp-content\/uploads\/2023\/08\/Rectangle-3-2.webp\" \/>\n\t<meta property=\"og:image:width\" content=\"1440\" \/>\n\t<meta property=\"og:image:height\" content=\"770\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/webp\" \/>\n<meta name=\"author\" content=\"IT Admin\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"IT Admin\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"8 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"WebPage\",\"@id\":\"https:\/\/star-am.com\/id\/2021\/08\/10\/star-insight-market-update-09-agustus-2021\/\",\"url\":\"https:\/\/star-am.com\/id\/2021\/08\/10\/star-insight-market-update-09-agustus-2021\/\",\"name\":\"STAR Insight, Market Update 09 Agustus 2021 - 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